$A is once again above 80 US cents

The Australian dollar once again has edged above 80 US cents as the US government shutdown weighs on the greenback.

At 0635 AEDT on Tuesday, the Australian dollar was worth 80.08 US cents, up from 79.94 US cents on Monday.

The dollar index, which measures the greenback against six rival currencies, was down 0.16 per cent at 90.428, close to a three-year low, as the US government shutdown weighed on sentiment.

Investors were also focused on a Bank of Japan policy announcement on Tuesday, and the European Central Bank’ meeting on Thursday, keeping trading cautious, the Reuters reported.

“Generally speaking the majors are all holding in familiar territory here ahead of a busy week of economic news and data, particularly on the central bank front,” Reuters quoted Omer Esiner, chief market analyst, at Commonwealth Foreign Exchange in Washington, as saying.

Both the BoJ and the ECB are not expected to signal any major policy shift.

The greenback had a slightly weaker tone on the day but did not concede too much ground against most major currencies amid the US government shutdown in Washington, which took effect at 0000 hours Saturday morning.

The Aussie dollar is also higher against the yen and unchanged against the euro.

Stay Informed

Disclosure Statement:
Presidio Financial Services Pty Ltd trading as WB Financial is an Authorised Representative of Financial Wisdom Limited ABN 70 006 646 108, AFSL 231138, a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.
General Advice Warning:
Information in this communication is based on regulatory requirements and laws, which may be subject to change. While care has been taken in the preparation of this document, no liability is accepted by financial wisdom, its related entities, agents and employees for any loss arising from reliance on this content.
This communication may contain general advice. It does not take account of your individual objectives, financial situation or needs. You should consider talking to a financial adviser before making a financial decision.